I was just wondering how something (toys and or figurines) become a collectible? Is it their age or how much you paid for it in the first place.

Here are some things that make an item collectible.

1. Age.
2. Scarcity. I.e. how many were made and are also extant in the world today.
3. Artistic value. Is it beautiful? Did a lot of work go into producing it? Was it hand-made in any way, or just mass-produced?
4. The scarcity of the material of which the item is made.
5. Popularity of the kind of item for people in general.
6. Value in terms of intrinsic and/or sentimental value and not just monetary value. I.e. was it a part of the family and handed down for generations?

Those are just some things that I can think of right now.

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You are very welcome for the answer!